Maruti’s net profits up in Q3

Maruti Suzuki India has issued its results for the quarter ending December, 2012. The company recorded net sales (net of excise) of Rs 10,957 crore, an increase of 45.6 per cent over the same period in the previous year. The growth in Net Sales was on account of higher volumes, favourable model mix and enhanced export realisation. Net profit during the quarter stood at Rs 501 crore, a growth of 143.8 per cent.

According to the company, the increase in net profits was primarily due to higher sales and good response to new models like Ertiga and Swift DZire. The company's continued cost reduction efforts helped to drive profit in the quarter. During the quarter, Maruti sold 268,957 units in the domestic market, compared to 211,803 units, reflecting a growth of 27 percent. Its exports were 32,496 units during the quarter, up 17.2 percent. In nine months of the financial year 2012-13, Maruti’s net sales (net of excise) stood at Rs 29,556 crore, an increase of 27.3 per cent over same period in the previous year.

Net Profits in this period were Rs 1152.5 crore, up 15.8 percent. In terms of sales, Maruti sold 742,175 units in the domestic market, reflecting a growth of 8.4 percent. Exports during April-Dec 2012 stood at 85,550 units against 88,469 units in April-Dec 2011